A Teachable Pension Math Moment

Unfortunately, compounding works in two directions. Yesterday the California Public Employees’ Retirement System reported excellent earnings for its 2016–17 fiscal year, earning 11.2 percent. Yet CalPERS’s Funded Ratio (the ratio of assets set aside to meet pension liabilities owed by…

The Great California Classroom Robbery

Pension and retiree healthcare beneficiaries must chip in. Despite historic revenue gains, California’s public schools are in financial trouble. While California’s public schools often suffer financial distress during recessions, their current plight is alarmingly taking place during an economic recovery and…

Jerry Brown’s Big Skim

Potential profits could’ve been used for government services Governor Jerry Brown and the California Legislature have approved a scheme under which a special state fund filled with citizen-paid fees will lend money to the state General Fund, which in turn…